China expected to grow at 8.1% in 2021, followed by Spain (5.9 pc) and France (5.5 pc)
WEB DESK
The The International Monetary Fund, IMF today projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the covid pandemic.
The IMF’s growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by 8 per cent in 2020 due to the pandemic.
In its latest update, the IMF projected a 11.5 per cent growth rate for India in 2021. This makes India the only major economy of the world to register a double-digit growth in 2021, it said.
China is next with 8.1 per cent growth in 2021 followed by Spain (5.9 per cent) and France (5.5 per cent).
Revising its figures, the IMF said in 2020, the Indian economy is estimated to have contracted by 8 per cent. China is the only major country which registered a positive growth rate of 2.3 per cent in 2020.